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Trifast on track as orders build

Published: 15:19 25 Sep 2017 BST

picture of fasteners
'Holding the world together' is Trifast's motto

Industrial fasteners group Trifast PLC (LON:TRI) has seen orders continue to build, while results are also meeting expectations.

Our visibility and order pipeline remains very encouraging, whilst our balance sheet is strong.  Accordingly, the board is confident that the Group will deliver its expectations for the year ending 31 March 2018,” said the company in a statement.

Last year was a record for the group and following on from that Trifast has hit targets for revenue, overheads and margins across all business teams in the UK, mainland Europe and Asia this year, it added.

"The positive benefits of our extensive capital investment programme are now tangibly revealing themselves.  

‘For example, TR VIC in Italy has just installed its £1 million new heat treatment plant, along with additional production plant for more complex value-add components supported by new automated inspection and packing machines.  This substantial expansion allows us to access further the growth market sectors within Europe.’

The negative impact of currency fluctuations on input costs is being broadly balanced by the benefits of translational effects as 70% of trading is overseas. 

Interim results will be published on 14 November.

Shares rose 2% to 206.3p.

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